Rapid Fire: August 18, 2015

August 19th, 2015 by

  • The Shanghai Composite loses another 6.15% on Tuesday, extending fears that China’s economy, currency, and equity markets may be showing signs of weakness. The blow was modestly lessened when the benchmark mainland stock index recovered 1.23% overnight on Wednesday.
  • Wal-Mart reports underwhelming earnings on Tuesday, causing its stock to fall by 3.5% in trading.
  • Somewhat surprisingly, President Obama has yet to make any statements endorsing his vice president, Joe Biden, as a potential 2016 Democratic Party nominee, as is generally the case.
  • Wednesday sees the release of the FOMC meeting minutes from July as the markets position themselves for a possible September rate hike.
  • Democratic Senator from New Jersey Robert Menendez joins fellow Democrat Chuck Schumer in publicly rejecting the Iran nuclear deal, vowing to vote against it.
  • Thai authorities believe they have video footage of the suspect in Monday’s bombing in the capital of Bangkok that left as many as 20 dead and 200 wounded.
  • Germany’s parliament approves the bailout deal for Greece by a wide margin.
  • The FDA approves a new drug called flibanserin, widely considered to be a “Viagra for women.”